Delighted to inform you that PropIndex completes 2 years!!
MagicBricks.com, the eight edition of PropIndex, highlights that despite global slowdown and domestic policy paralysis, the last two quarters have witnessed some positive policy boosts and consequent response by industry. This has impacted consumer sentiment and delivery of housing products. This is reflected in the 3% rise in the National Property Index (NPI), an indicator of some optimism in the market.
Among the 11 cities tracked in the apartment index, eight have seen a rise but others registered a marginal drop in the city index. While Bangalore, Gurgaon, Noida, Mumbai, Kolkata, Delhi, Pune and Ghaziabad witnessed a rise in city index values, Chennai, Hyderabad and Ahmedabad recorded 2-6 per cent drop during the quarter.
Bangalore topped the chart of 11 city index at 7 per cent increase followed by Gurgaon and Noida at 5 per cent rise each. Mumbai and Kolkata registered a rise of 4 per cent each while Delhi, Pune and Ghaziabad saw a rise of 3 per cent each in the city index values. Cities registered dropped in index values are Ahmedabad, Hyderabad and Chennai in the range of 2-6 per cent.
Key findings of PropIndex:
- Residential property in the Rs 30-50 lakh range continued to top the consumer demand chart by (23 per cent)
- Premium residential properties in Rs 2 crore and above range witnessed healthy buyer interest (13 per cent)
- In spite of cautious approach among buyers, listings price continued to remain up
- Six out of 11 cities witnessed over 50 per cent demand for 2 BHK units